Fuel Management

Gasoline Prices Drop for Second Staight Week

June 30, 2006
• by Staff

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline dipped 0.2 cent last week to $2.869 per gallon as of June 26. That's 65.4 cents higher than last year, according to the Energy Department's Energy Information Administration (EIA).
Prices fell for the second week in a row, with only the Midwest seeing a price increase -- that of 4.5 cents to reach $2.821 per gallon. West Coast prices remained the highest in the nation despite falling the most this week, dropping 3.6 cents to $3.095 per gallon. California prices fell 3.5 cents to $3.163 per gallon. East Coast prices dropped 1.9 cents to $2.854 per gallon, the EIA reported.
Retail diesel fuel prices fell 4.8 cents to reach $2.867 per gallon as of June 26, which is 53.1 cents higher than last year. Prices dropped throughout the country, with the Rocky Mountains seeing the largest PADD-level decrease of 5.8 cents to $2.96 per gallon. West Coast prices remained the highest in the country, falling 4.9 cents to $3.068 per gallon, while California prices were down 4.5 cents to $3.14 per gallon. East Coast prices fell 4.3 cents to $2.864 per gallon.

Fuel Management

The multiple-year agreement specifies that WEX will provide Marathon Petroleum Corp. with sales and marketing resources to further drive Marathon’s retail growth. It follows an initial five-year deal between the companies.

The cost of gasoline has been on the rise this year. These higher gas prices could pose a direct threat to a fleet’s overall costs. Implementing technologies and considering alternative fuel vehicles could help curb costs.

ARI and WEX, Inc. are celebrating their long-running relationship with co-branded fuel cards for fleet customers of the fleet management company, the payments solution provider announced. The companies have been in business together for 25 years.

The national average price of a gallon of regular unleaded fell two cents to $2.95 for the week ending June 4 during a week that saw the first price decline since the middle of March, according to AAA. The decline followed a slight dip in oil consumption from a year ago.

WEX, Inc. has struck an agreement with the holding company of Shell Oil Products to issue Shell-branded fuel payment cards to commercial fleets starting later this summer, the Portland, Maine-based payment provider has announced.

The national average price of a gallon of regular unleaded jumped 12 cents to $2.93 over the past two weeks, ahead of the Memorial Day holiday and reaching the highest level for this holiday weekend in four years, according to AAA.

Fleetcor Technologies, Inc. will test blockchain technology as a way to modernize payments for its commercial fleet clients, especially across international borders, as part of a new initiative with Ripple, which has expertise in the technology, according to the company.

The national average gasoline price moved sharply higher for the week ending May 14, following the Trump administration's decision to withdrawal from an Obama-era nuclear deal and reimpose sanctions on the country.